Re Bond Issue

Land Securities Group Plc
25 October 2004

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
UNITED STATES


25 October 2004


LAND SECURITIES GROUP PLC

LAND SECURITIES PLC - OFFER TO HOLDERS OF EXISTING NOTES: ANNOUNCEMENT OF
PRICING DATE

This announcement is made in respect of the Proposals set out in the Prospectus,
Offer and Consent Solicitation Document dated 27 September 2004 (the 'Offer
Document').  Terms and expressions defined in the Offer Document have the same
meaning in this announcement.

Land Securities PLC hereby confirms that it expects to announce the Repurchase
Price for each Series of Existing Notes on 26 October 2004 (such date being the
Pricing Date in respect of each of the Offers), as indicated in the expected
timetable of events described in the Offer Document.


Important Notice

No offer or invitation to acquire or exchange any securities or proposals to
Existing Noteholders is being made pursuant to this press release.  Any such
offer, invitation or proposals are only being made in the Offer Document and any
such acquisition or exchange or acceptance of such proposals should be made
solely on the basis of information contained in the Offer Document.  A copy of
the Offer Document is available at the offices of Citigroup Global Markets
Limited at Canada Square, Canary Wharf, London E14 5LB.

This press release is not an offer of securities for sale in the United States.
The new bonds to be issued under the new structure have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
'Securities Act') and may not be offered or sold within the United States or to
or for the account or benefit of U.S. Persons (as defined in Regulation S under
the Securities Act ('Regulation S')), except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the Securities
Act.  Accordingly, the new bonds will be offered and sold only (A) to Qualified
Institutional Buyers in reliance on the exemption from the registration
requirements of the Securities Act provided by Rule 144A under the Securities
Act and (B) outside the United States to non-U.S. Persons in compliance with
Regulation S.

                                    - End -


For further information, please contact:


Land Securities Group PLC                   Financial Dynamics
Andrew Macfarlane/Emma Denne                Stephanie Highett/Dido Laurimore
Tel: [phone]                   Tel: [phone]



                      This information is provided by RNS
            The company news service from the London Stock Exchange